According to FX Strategists at UOB Group, EUR/USD could still attempt a move to the 1.1200 region in the near term. Key Quotes 24-hour view: “EUR traded between 1.1116 and 1.1157 yesterday, lower and narrower than our “lower trading range of 1.1120/1.1170″. The price action is still viewed as part of a consolidation phase and EUR is expected to continue to trade sideways for today, likely between 1.1110/1.1150″. Next 1-3 weeks: “EUR slipped and closed lower by -0.21% yesterday (NY close of 1.1124). While we continue to hold the same view from Monday (21 Oct, spot at 1.1150), the ‘healthy’ rally that we highlighted appears to have suffered a minor setback. That said, only a break of 1.1070 (no change in ‘strong support’ level) would indicate that EUR is not ready to tackle 1.1200 just yet. To put it another way, if EUR were to move below 1.1070, it would mean the current positive phase that started more than a week ago (see annotations in the chart below) has run its course and EUR would likely consolidate and trade sideways for a period”. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next EUR Futures: extra losses in the pipeline FX Street 3 years According to FX Strategists at UOB Group, EUR/USD could still attempt a move to the 1.1200 region in the near term. Key Quotes 24-hour view: "EUR traded between 1.1116 and 1.1157 yesterday, lower and narrower than our "lower trading range of 1.1120/1.1170". The price action is still viewed as part of a consolidation phase and EUR is expected to continue to trade sideways for today, likely between 1.1110/1.1150". Next 1-3 weeks: "EUR slipped and closed lower by -0.21% yesterday (NY close of 1.1124). While we continue to hold the same view from Monday (21 Oct, spot at 1.1150), the 'healthy'… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
